GBPJPY (145.56): GBPJPY has been trading flat for the past couple of sessions. Price action is seen consolidating within the 146.85 resistance and 145.00 support levels. This comes after the previous strong rally sent GBPJPY towards the highs near 147.55. Support is seen at 142.28. However, for this support level to be tested, GBPJPY will need to make a convincing close below 145.00 support level as a result. To the upside, any gains will likely struggle to break past the 147.55 resistance level. With the BoE’s meeting lined up this week, GBPJPY could be seen maintaining a flat bias into the event.
